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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #92,521
  • Mar 30, 2011 10:40am Mar 30, 2011 10:40am
Quoting mbqb11
Daily/weekly are where many never leave b/c it takes very little time to follow and upkeep once one gets good at it


Mike
Hi Mike,

just wondering here how many pairs/other financial instruments you follow with your daily/weekly approach?


thanks,
Art
  • #92,522
  • Mar 30, 2011 10:43am Mar 30, 2011 10:43am
Quoting arsa
Hi Mike,

just wondering here how many pairs/other financial instruments you follow with your daily/weekly approach?


thanks,
Art
Hey Art

It's somewhere in the 60-70 range , and about half of that intraday (4hr and lower)

Best
Mike
  • #92,523
  • Mar 30, 2011 10:49am Mar 30, 2011 10:49am
Quoting mbqb11
Hey Art

It's somewhere in the 60-70 range , and about half of that intraday (4hr and lower)

Best
Mike
Could you elaborate more on that? mostly forex? what else?

Do you look at some weird crossed? where is low liquidity, etc?

Best,
Art
  • #92,524
  • Mar 30, 2011 10:51am Mar 30, 2011 10:51am
Quoting mbqb11
We do very similar things here, but we simply call them retracement entries.
Thanks Mike. I knew you guys love the RT entries. I had tried them based on fibs with some success (equity curve heading steadily North thanks to you guys).

It's just that this morning I had my EUREKA moment, and crivens it felt good!

I got a sense of how that Matrix guy must have felt the first time he saw the world in binary code.

It's all there in the bars/candles forming across the screen- support, resistance, supply, demand, pivots, and most importantly, sticking out like a sore thumb, the bad traders who will unwittingly give us all their money
  • #92,525
  • Mar 30, 2011 11:00am Mar 30, 2011 11:00am
Quoting arsa
Could you elaborate more on that? mostly forex? what else?

Do you look at some weird crossed? where is low liquidity, etc?

Best,
Art
Hey Art

Yes for daily/weekly I will look at most crosses, as the issues become less of a problem(some only on weekly)

All forex + gold/silver spot.

Basically most of what FXpro offers(as long as I have a broker to trade it with) plus a few others not offered on FXpro.

If there are any particular ones your wondering just shoot me a message anytime

Mike
  • #92,526
  • Mar 30, 2011 11:01am Mar 30, 2011 11:01am
how do you see short entry on 50% pullback (1,6046) on these 2 bars on 2H frame GBPUSD - 50MA rejection and resistance confluence zone
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  • #92,527
  • Mar 30, 2011 11:08am Mar 30, 2011 11:08am
Quoting fx_rookie
how do you see short entry on 50% pullback (1,6046) on these 2 bars on 2H frame GBPUSD - 50MA rejection and resistance confluence zone
http://www.imagepost.ru/images/829/2.gif
  • #92,528
  • Mar 30, 2011 11:28am Mar 30, 2011 11:28am
Quoting aserbfx
weekly dfz with a steep approach of the resistance zone. stock is very illiquide, so be carefull with market orders. after a break of the 12 usd the next target is the 10-year high at 13.15 usd.
2.5 days later dfz already made about +7% !!!
sadly, i didn't take the trade because i was holding too many other stocks.
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meine augen sind die sterne
  • #92,529
  • Mar 30, 2011 11:33am Mar 30, 2011 11:33am
Quoting aserbfx
bks on weekly and monthly.
the stock has been beaten really hard.
it is now near a historical low.
offering a touch-trade now.
the week before last was on ultra-high volume.
i would take a very small position with a stop below the recent low at ~8.65 usd. target at ~11.90 usd. therefore good risk-reward ratio.
do not mortgage your house on this.
same goes for bks. +7% in 2.5 days.
i would set sl to break even here.
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meine augen sind die sterne
  • #92,530
  • Mar 30, 2011 11:38am Mar 30, 2011 11:38am
Quoting aserbfx
same goes for bks. +7% in 2.5 days.
i would set sl to break even here.
Beautiful, as ever

One of these days I'm gonna move over to your broker!
  • #92,531
  • Mar 30, 2011 11:40am Mar 30, 2011 11:40am
Quoting aserbfx
psmt with a buob on weekly. i would wait for a break of the 35 usd. beyond the 40 usd is the next target.
psmt is a real underperformer so far . only +4% in 2.5 days. pheww, that stinks.
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meine augen sind die sterne
  • #92,532
  • Mar 30, 2011 11:58am Mar 30, 2011 11:58am
Good stuff

Quoting Ifmyante
Thanks Mike. I knew you guys love the RT entries. I had tried them based on fibs with some success (equity curve heading steadily North thanks to you guys).

It's just that this morning I had my EUREKA moment, and crivens it felt good!

I got a sense of how that Matrix guy must have felt the first time he saw the world in binary code.

It's all there in the bars/candles forming across the screen- support, resistance, supply, demand, pivots, and most importantly, sticking out like a sore thumb, the bad traders who will unwittingly give...
  • #92,533
  • Mar 30, 2011 12:01pm Mar 30, 2011 12:01pm
Quoting mbqb11
All good analysis by you guys. I would wait for something strong as well. These areas come up all the time , for me the key is being patient for the area + bar setup + story to all line up. Then you won't mind passing on the little guys(poodles)

I am still a fan of walking the family pit bull

Mike
Hey Mike,

This what we're talking about?

- Large H4 BEOB off good pivot .9232
- Close through ascending TL
- Close below 150 ema
- Close below .9200
- Divergence

SG
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  • #92,534
  • Mar 30, 2011 12:08pm Mar 30, 2011 12:08pm
Quoting six gun
AUD/USD



Your question was answered in another post.
The PB did not fail. It is easy to think a pinbar will cause price to move wholeheartedly in one direction or other. They do not. There are lots of things to look at in pinbars, not just that there is one there.

The pinbar is quite small. Look at the bullish trend coming up behind it. Is that pinbar going to reverse that? Unlikely and it did not.

The PB has not failed. Whenever you look at a formation, whether it be a pinbar or an outside bar or any of the others mentioned here. Think...
Thanks for your insight on this. Another lesson learned. I'm getting wiser every day
  • #92,535
  • Mar 30, 2011 12:10pm Mar 30, 2011 12:10pm
Quoting Sgrb1
Hey Mike,

This what we're talking about?

- Large H4 BEOB off good pivot .9232
- Close through ascending TL
- Close below 150 ema
- Close below .9200
- Divergence

SG
Me too, I like this setup. All good but the close is a bit weak I think, so I gave it 1 more hour to develop and will take it an hour from now (if on Alpari it will close stronger). Besides the close looks really promising to me.

For now I have already set my order to short below this CADCHF BEOB.
Lets see
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  • #92,536
  • Mar 30, 2011 12:15pm Mar 30, 2011 12:15pm
Quoting Adilius07
Me too, I like this setup. All good but the close is a bit weak I think, so I gave it 1 more hour to develop and will take it an hour from now (if on Alpari it will close stronger). Besides the close looks really promising to me.

For now I have already set my order to short below this CADCHF BEOB.
Lets see
Agreed, wasn't the strongest close. I like the CADCHF aswell, in fact all the swiss based pairs seem to be giving a strong bearish signal which is a good sign. I'd rather stick with the major though..

Let's see, as you say

SG
  • #92,537
  • Mar 30, 2011 12:18pm Mar 30, 2011 12:18pm
congratulations to india
and good luck for the final match!!!

Inserted Video
meine augen sind die sterne
  • #92,538
  • Mar 30, 2011 12:22pm Mar 30, 2011 12:22pm
Quoting aserbfx
congratulations to india
and good luck for the final match!!!

http://www.youtube.com/watch?v=W2hnLYuCzgQ
Thanks Aserb...wow u were kinda watching match...
jus waitin for GOD(Sachin Tendulkar) to make his 100 100s at his hometown..

Mumbai here u come!!!!!

lets see..
  • #92,539
  • Mar 30, 2011 12:24pm Mar 30, 2011 12:24pm
Good news to Oanda users!
Oanda now has H4 and H8 on their web platform!
Attached Image
  • #92,540
  • Mar 30, 2011 12:32pm Mar 30, 2011 12:32pm
Quoting sammy31
Good stuff
Thanks Sammy. It's been a long time coming! The seniors here will be laughing at my naivete. This day will have come for each of them long ago, like a visitor to another country realising that they're actually thinking in the foreign language!

Still tons more to learn though, but I'm optimistic
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